How Is The Market Feeling About Consolidated Edison?
Portfolio Pulse from Benzinga Insights
Consolidated Edison (NYSE:ED) has seen a 20% increase in short interest since the last report, with 6.91 million shares sold short, representing 2.7% of available shares. It would take 2.72 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a near-term price drop. Compared to its peers, ED has a lower short interest percentage of float (2.7% vs. peer average of 3.06%).
November 28, 2023 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Consolidated Edison's increased short interest suggests bearish market sentiment, but it's still below its peer group average. This may not affect the stock price in the short term.
The rise in short interest indicates a bearish sentiment, but since ED's short interest is below the peer average, it may not have a significant impact on the stock price in the short term. The market's reaction to short interest can be unpredictable, and the article suggests that increasing short interest does not necessarily mean the stock will fall.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 80